This is another wrong phrase for bitcoin long term investment. It belong to gambling because in bitcoin long term investment, we are not investing to lose money even though we are putting in part of our discretionary income. I will not diligently put at least 20% of my income into bitcoin and kept for my retirement and partly to hand over to my heirs only to lose them. Bitcoin is not disappearing anytime soon or turning into zero so the chances of this me losing my money is very slim or non existent.
You can consider your Bitcoin investment is for long term, and for profit but life is always hard since your birthday. You cried at a first time you were born and I'd like to use it metaphorically on how life is very tough for everyone, not only you.
So investment adventure with Bitcoin is tough, and you must afford to lose your money even you consider it as your long term investment into a kind of very safe asset. I agree that Bitcoin is a very good investment asset, safe enough but I disagree to consider risk for your investment portfolio is nearly zero. Risk truly exists and you can not eliminate it only by your belief.
Risk is definitely present in everything, and this risk can never be ignored. Similarly, you must accept the potential risks involved in Bitcoin investment, and prepare yourself to tolerate that risk before investing. Bitcoin will never guarantee us profits, no matter how positive Bitcoin's potential is, so you must invest in Bitcoin with an amount of money that you can tolerate these risks, and in Bitcoin investment, you must invest for the long term.
But at least you know how to acknowledge the risk and do something to minimize those situation you get. That's why if you want to choose lesser evil on this type of investment people better choose to HODL bitcoin since this is more recommendable decision to do especially if they add up doing DCA strategy for their accumulation. Since we know that it lower down the risk or impact of market volatility that's why people using this don't get worried to much on the volatility happening in the market.
Bitcoin will never guarantee us profit but promising situation and future more good development gives us good insights towards what's going to happen and those situation is seems to be promising for Holders that's why I believe that its always to have a good bet rather than doing nothing and join those people who regret for not buying Bitcoin way back then.